BlackBerry Short Interest Down 7.4% in May (BBRY)
Shares of BlackBerry (NASDAQ:BBRY) were the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 93,882,666 shares, a decrease of 7.4% from the April 30th total of 101,358,204 shares, AR Network reports. Based on an average daily trading volume, of 8,774,952 shares, the short-interest ratio is presently 10.7 days. Currently, 19.2% of the shares of the company are sold short.
A number of analysts have recently weighed in on BBRY shares. Analysts at Oppenheimer upgraded shares of BlackBerry from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 6th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of BlackBerry in a research note on Friday, April 25th. They now have a $7.75 price target on the stock. Eleven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.45.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.40 on Tuesday. BlackBerry has a 1-year low of $5.44 and a 1-year high of $15.09. The stock’s 50-day moving average is $7.41 and its 200-day moving average is $8.10. The company’s market cap is $3.840 billion.
BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Friday, March 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.49. The company had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down 63.6% on a year-over-year basis. Analysts expect that BlackBerry will post $-0.93 EPS for the current fiscal year.
BlackBerry Limited, formerly Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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